GlobalPolyester Filament Market: Overview
Increasinguse of textile materials in the healthcare sector is leading to higher demandin the globalpolyester filament market. Over the forecast period of 2020 to 2030,advancement in surgical textiles will lead to rapid growth. Transparency MarketResearch notes that this will create a fertile ground for opportunities, toemerge, over the stated period. Players in the market will make use of variedstrategies to tap into these, invariably contributing thus towards the growthof the market. Moderate yet steady compound annual growth rate is anticipated.
It isquite interesting to note here that world over home furnishing industry istaking to this yarn instead of cotton. This is enables by new-age interiordesigning rules. Urbanization is also leading to higher demand for suchfurniture, taking the global polyester filament market worth higher.
Global Polyester Filament Market: Competitive Landscape
The globalpolyester filament market is consolidated with just 3 players holding a massiveshare of about 40% of revenues. Most notable players in the market are focusedon entering new alliances to chart growth and strengthen standing in themarket.
The majorplayers are:
· Hyosung
· Kordsa Global
· Kolon Industries
Theseplayers are focusing upon improving product portfolio and focusing uponresearch and development activities. Additionally, marketing and innovationforms key growth factors for players. Additionally, alliances often pave wayfor better reach, helping players tap into new consumer bases.
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GlobalPolyester Filament Market: Key Trends and Drivers
The vendorlandscape of the global polyester filament market is set to witness varioustrends and drivers, helping players chart higher growth. The trends and driversare identified, examined, and spelled out in great detail in Transparencymarket Research’s upcoming report on the global polyester filament market. Aglimpse into some of the notable ones is provided below:
· Sustainability is marking a number of industry verticals and themarket for polyester filament market is no different. It is quite interestingto note here that recycled polyester filament is therefore gaining prominence,especially in the production of furniture. The millennial populace, marked bywoke mindset is a particular consumer group asking for sustainability inproducts.
· Research and development (R&D) in the global polyesterfilament market is witnessing an increase in activity. This is also leading togrowth in the market over the forecast period. Additionally, it is worth notinghere that innovation in the market is a major growth factor, paving way for ahigh growth trajectory, over the forecast period of the market report.
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Global Polyester Filament Market: Regional Analysis
Strongpresence of manufacturers in Asia Pacific (APAC) region, coupled with entry ofnew players is set to make the market a prominent landscape. It is worth notinghere at the focal point of production of the yarn of polyester filament is theNortheast Asian region. Demand for the same is majorly propelled by China andIndia. Heavy industrialization and rapid urbanization are major growth factorsin the Asia Pacific polyester filament market. North America and Europe will beother lucrative regional markets with a large demand for modern furniture, madeup of recycled material – something the millennial populace is quite big on.Additionally, high disposable income in the regions help the markets growsubstantially. It is worth noting here that major exporters of the product inthe world are Western Europe, North Africa, South East Asia.
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